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While the major stock market indexes indicate a bullish sentiment, not all popular stocks are good bets now. Although the social-media-hype led to the skyrocketing rally of some stocks, their weak fundamentals and financials could trigger a brutal decline in their share prices.
Popular meme stocks NIO Inc. (NIO), AMC Entertainment Holdings, Inc. (AMC), and Sundial Growers Inc . (SNDL) enjoyed the limelight solely because of the social-media hype. However, since their current price levels do not match their bleak growth potential and underlying fundamentals, we believe these stocks are best avoided now.
